When Prasad Patil bought a term insurance cover of Rs 1 crore, he was single and had no dependents. Now married, he feels the Rs 1 crore insurance cover won’t be enough to sustain his family’s needs and cover his goals 10 years down the line. “It may be adequate now, but I have to plan for a situation where we will have kids. Also, my income will rise significantly later. To cover that loss perhaps a higher cover might be required,” says the Mumbai-based self-employed professional.
Edelweiss MF’s Trideep Bhattacharya: Inflows following earnings growth last longer
Read More